Capital World Investors Cuts Holdings in Crown Castle Inc. (NYSE:CCI)

Capital World Investors decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 64.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,930,619 shares of the real estate investment trust’s stock after selling 7,269,146 shares during the period. Capital World Investors owned about 0.90% of Crown Castle worth $356,743,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Twin Tree Management LP purchased a new position in Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC lifted its position in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in Crown Castle in the fourth quarter worth approximately $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle in the 4th quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Crown Castle during the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCI. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. StockNews.com upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. lowered their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Barclays raised their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. Finally, JMP Securities assumed coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $109.88.

Crown Castle Stock Performance

NYSE:CCI opened at $103.51 on Monday. The stock has a 50-day moving average price of $97.73 and a 200 day moving average price of $98.57. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The stock has a market capitalization of $45.07 billion, a P/E ratio of 36.71 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.